Snap Inc.

From Simple English Wikipedia, the free encyclopedia

Snap Inc. is an American company that owns the Snapchat messenger, as well as other products: Spectacles smart glasses, Bitmoji and Zenly services. Founded on September 16, 2011 by Evan Spiegel and Bobby Murphy as Snapchat Inc., but rebranded on September 24, 2016 to its current name.

The founders own a combined 95% of voting shares.[1]

It was founded by Evan Spiegel.

History[change | change source]

On March 2, 2017 Snap Inc. was listed on the New York Stock Exchange at a price of $17 per share.

At the start of trading, the company's valuation reached about $33 billion. It was the largest offering by a US tech company since Facebook's IPO.

In June, Snap acquired map location-sharing service Zenly for $250 million to $350 million.

References[change | change source]

  1. Balakrishnan, Anita. "Snap's annual report reminds investors just how much power CEO Evan Spiegel has". CNBC. Retrieved 2022-12-13.